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Wearable market in India grows by 41.9 percent in Q2, 2016: IDC

In terms of fitness bands the market was dominated by Intex, GOQii and MI. In terms of vendors’ market share, GOQii grabbed number one position in the quarter with 16.1 percent market share while Fitbit, maintained its position at third spot.

  • Updated: September 6, 2016 4:18 PM IST
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The wearable devices market is rapidly gaining traction in India. The wearable devices market in India grew 41.9 percent in the second quarter over the first quarter of this year, International Data Corporation (IDC) reported. According to IDC’s “Worldwide Quarterly Wearable Device Tracker” report, the total shipment in the second quarter stood at over 567,000 units of which the basic wearables, defined as those which cannot run third-party applications, contributed nearly 94 percent. There is even a new entrant to the top 5 list. Garmin made an entry to the top five with a 1.4 percent share and Huawei stood fifth with 1.0 percent market share. Domestic consumer electronics company Intex held a significant chunk in the “others” category and was one of the major drivers of the market, the report added.

“The wearable market has advanced to a stage where awareness is no more a roadblock. New vendors are continuously entering the market and existing vendors are offering better product features,” said Raj Nimesh, Senior Market Analyst, Client Devices, IDC, in a statement. “The wearable market has advanced to a stage where awareness is no more a roadblock. New vendors are continuously entering the market and existing vendors are offering better product features,” he added.

In the first quarter, the wearable market in India clocked over 400,000 units sold in Q1 2016, driven largely by fitness bands with 87.7 percent market share whereas smart wearables such as smartwatches contributed to around 12.3 percent, says an International Data Corporation (IDC) report.

Fitbit and Apple are the only two brands that are widely present in physical stores; the other brands have either limited or no offline presence, the report by the US market research and analysis firm, noted. The penetration of wearables is still low, and vendors are investing in the continuous development of products to provide better value to users.

With additional inputs

  • Published Date: September 6, 2016 4:16 PM IST
  • Updated Date: September 6, 2016 4:18 PM IST